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OFFON

GENWORTH FINANCIAL, INC.

(GNW)
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Genworth Revives Enact Holdings IPO, Targets over $3 Bn Valuation

09/13/2021 | 12:27pm EDT

Genworth Financial, Inc. (NYSE:GNW) on September 13, 2021 revived plans for an initial public offering (IPO) of Enact Holdings, Inc., aiming for a valuation of more than $3 billion for its mortgage insurance unit, according to a regulatory filing. The company had deferred the IPO here in May 2021 due to market volatility, with Chief Executive Officer Tom McInerney saying the market pricing did not accurately reflect the company's value. Enact’s existing shareholders plan to raise as much as $266.21 million by selling about 13.31 million shares in the IPO, priced between $19 and $20 per share. Proceeds from the sale will not go to the company. At the upper end of the price range, the company is eyeing a valuation of nearly $3.3 billion. Goldman Sachs and J.P. Morgan are the lead book-running managers for the offering, after which Enact will be listed on the Nasdaq under the symbol “ACT”.


ę S&P Capital IQ 2021
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Analyst Recommendations on GENWORTH FINANCIAL, INC.
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Financials (USD)
Sales 2021 7 997 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 2,80x
Yield 2021 -
Capitalization 2 232 M 2 232 M -
Capi. / Sales 2021 0,28x
Capi. / Sales 2022 0,28x
Nbr of Employees 3 000
Free-Float 84,3%
Chart GENWORTH FINANCIAL, INC.
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Technical analysis trends GENWORTH FINANCIAL, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 4,40 $
Average target price 4,00 $
Spread / Average Target -9,09%
EPS Revisions
Managers and Directors
Thomas J. McInerney President, Chief Executive Officer & Director
Daniel J. Sheehan EVP, Chief Financial & Investment Officer
Melina E. Higgins Independent Non-Executive Chairman
G. Kent Conrad Independent Non-Executive Director
Debra J. Perry Independent Non-Executive Director
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